What Is QTUM?
QTUM (pronounced Quantum not Q-TUM) is a blockchain based technology
that’s based in the country of Singapore. The project seeks to tackle the
bridging of Ethereum and its smart contracts with the stability of the Bitcoin
Blockchain with the integration of proof of stake for the act of verification.
Being able to combine these aspects of the two currencies allow for a
potential value added to the components of the interoperability of the smart
contracts and more. The use cases would be aimed at larger organizations
like businesses and institutions.
QTUM wants to make a space where businesses can quickly plug and play
the concept of smart contracts. Businesses will be able to create and deploy
smart contracts in a quick and simple manner. QTUM seeks to make smart
contracts safer and simpler.
QTUM built on top of the Bitcoin Blockchain codebase. Yet, the developers
behind QTUM have played around with the codebase and have implemented
more layers, such as the integration of the Ethereum Virtual Machine, thus
allowing for smart contracts to run on top of its foundational code.
Their Block Time is one hundred and twenty seconds while the size of their
blocks are 2MB. They have a total coin limit of 100 million and inflation is one
The project currently has a mainnet which is live and is a highly valued
cryptocurrency in terms of market capitalization.
Built for commercialization, the QTUM foundation is aiming to target
corporations and businesses and make smart contracts simple and easy. They
want to act as a bridge from the current era of legacy systems to the present
and the future of blockchain based technology to create better efficiencies.
Adding to this, the team at QTUM wants to provide the necessary tools and
foundations to promote smart contracts and decentralized applications.
Key aspects are the proof of stake 3.0, an unique smart contracts platform,
datafeeds and oracles, smart contracts and light clients.
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